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5min chapter
How Cognitive Biases Cause us to Overspend with Amanda Montell
Frugal Friends Podcast
Cognitive Biases and Money Decisions
This chapter delves into how cognitive biases influence purchasing decisions, from nostalgic buys driven by declineism bias to the hesitation towards spending on essential items due to status quo bias. The speakers also explore the paradox of being reluctant to spend on necessary expenses like dental care but willing to splurge on other items, leading to discussions on healthcare motives and personal financial choices.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode